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Mithushana Ravindran

mithushana.ravindran@pg.canterbury.ac.nz

Machine Learning Based Early Warning Models for Financial Risk Prediction: Evidence from Banking, Corporate, and Sovereign Institutions

13 January 2026
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About Me:

I am Hephzibah Mithushana from Sri Lanka, currently pursuing my PhD in Finance at the University of Canterbury, New Zealand. My research focuses on applying machine learning techniques to financial risk prediction and early warning systems, aiming to strengthen financial stability through data-driven insights.

Before starting my doctoral journey, I served as a Lecturer at the Open University of Sri Lanka, where I taught Financial Econometrics, International Finance, Financial Derivatives, Advance Management Accounting, Accounting & Finance and Cost & Management Accounting. My academic passion lies in integrating modern analytical tools with financial theory to enhance decision-making and policy development. Beyond academics, I enjoy reading, exploring new ideas, and engaging in meaningful discussions that connect finance, data, and sustainability.

Research Interests:

Financial Technology (Machine Learning Models); Financial Institutions; Corporate Finance; Risk Management.

Education:

PhD in Finance (Reading for), at the University of Canterbury, New Zealand.

MSc in Management, 2023, University of Sri Jayewardenepura, Colombo, Sri Lanka.

BBA (Hons) in Financial Management (Special), 2019, University of Jaffna.

Chartered Institute of Management Accountants (CIMA) Passed Finalist, 2018, UK.

 

Supervisors:

Senior Supervisor: Kuntal Das

Co-supervisor: Mona Yaghoubi

 

Publications:

Mithushana, R. J., Nanayakkara, N. S. (2025). Evolution of Early Warning Models for Bank Failures: A Bibliometric Analysis, International Journal of Economics and Financial Issues: 15(3), 337-350. DOI: https://doi.org/10.32479/ijefi.17785.

Mithushana, R., Kengatharan, L. (2023). Impact of COVID-19 on the Performance of MSMEs in Jaffna District, Sri Lanka, The Journal of Business Studies, 7(2), 45-56.

Mithushana, R., Kengatharan, L. (2021). Impact of Financial Leverage on Firm Profitability: Evidence from Non-Financial Firms Listed in Colombo Stock Exchange Sri Lanka., South Asian Journal of Finance, 1(1), 80-91. DOI: 10.4038/sajf.v1i1.29.

 

Conference Presentations: 

New Zealand South Asia Centre Annual Symposium 2024, New Zealand – Dec 2024

22nd FMSC Research Sessions, Sri Lanka – Feb 2023

ISPEC 7th International Conference on Social Sciences & Humanities, Mus, Turkey – Sep 2021

 

Awards and Honours:

UC Dept. of Economics & Finance PhD Scholarship

 

Why did you choose UC?

I chose to pursue my PhD at the UC Business School because of its strong research culture, international reputation in finance and economics, and its emphasis on rigorous, policy relevant scholarship. The school’s expertise in quantitative methods and data driven research closely aligns with my doctoral focus, while the supportive supervision environment and access to high quality research resources provide an ideal setting to develop impactful and globally relevant research at University of Canterbury Business School.

 

Best things about study at UC:

The best aspects of my PhD study at the UC Business School so far have been the supportive and collaborative research environment, strong guidance from experienced supervisors, and access to excellent research training and facilities. Regular seminars, workshops, and opportunities for interdisciplinary engagement have strengthened my research skills and academic confidence, while the collegial culture has made my doctoral journey both intellectually stimulating and personally rewarding at University of Canterbury Business School.

 

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